Trump Stands Firm: No Subsidy Cuts for Musk's Empires
President Trump asserted he won't dismantle Elon Musk's companies by withdrawing federal subsidies, promoting business growth. Despite earlier tensions and Musk's political contributions, Trump emphasizes support. Musk's warning on reduced subsidies' impact on Tesla was overshadowed by Trump's commitment to fostering U.S. business prosperity.
In a reassuring statement, President Donald Trump declared on Thursday his intention not to strip Elon Musk's companies of federal subsidies, aiming to ensure their prosperity. Trump's remarks came as he rebuffed claims that he would dismantle Musk's enterprises by cutting governmental financial support.
The announcement followed Technopreneur Musk's cautionary note to Tesla investors regarding potential setbacks from the U.S. government's reduced backing for electric vehicle manufacturers. Musk, a notable Trump supporter, invested heavily in the presidential campaign and played a role in governmental financial restructuring efforts.
Despite their eventual political rift over policy disagreements, particularly about a tax-cut and spending package, Trump reinforced his commitment to seeing Musk's businesses thrive, countering any notion of revoking substantial federal contracts with Musk's ventures.
(With inputs from agencies.)
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